China's commercial crude oil stocks down 1.55%

BEIJING - China's commercial crude oil inventories declined 1.55 percent month-on-month by the end of November despite a sharp rise in imports.

While net imports of crude oil increased 12.8 percent in November, the amount of oil refined decreased, bringing total stocks up. Commercial crude oil inventories went down after other types of reserves were deducted.

Diesel reserves also dropped due to higher demand as the economy stabilizes.

Gasoline stocks rose slightly as the cold weather affected traveling and reduced demand for petrol.